SKYCITY announces plans to offer online casino gaming

SKYCITY Entertainment Group Limited is excited to announce that its Maltese subsidiary company, SKYCITY Malta Limited, will partner with international iGaming company Gaming Innovation Group Inc (GiG) to provide New Zealanders with an online casino gaming platform.

The proposed ‘skycitycasino’ online gaming site is expected to be launched in mid-2019 and will be operated from Malta under a .com URL.

Under current New Zealand law, only Government-owned Lotto and the TAB are permitted to offer online gaming from within New Zealand, however many New Zealanders freely participate in online casinos provided by offshore operators.

SKYCITY Chief Executive Graeme Stephens said the skycitycasino online gaming site will offer best-in-class host responsibility and a brand name New Zealanders can trust. Although the online casino will be operated from offshore, it will ensure that its obligations under New Zealand GST legislation are complied with.

The existing online casino market in New Zealand is well established (with a number of sites in operation) with estimates suggesting approximately $160 million a year is spent by New Zealanders on online casino platforms currently provided by offshore operators*.

Mr Stephens believes that "the skycitycasino online gaming site offers customers an opportunity to enjoy playing in a safe, secure environment with a brand they know and trust and we will be striving to set the benchmark for any regulation in the future.”

GiG will provide a full-suite online casino solution which includes a technical platform, gaming content, managed services and front-end development.

“We spent a lot of time evaluating and selecting a suitable partner and had a number of options to choose from. We believe GiG provides the right balance of experience, coupled with a new software platform relevant to the future and access to high-quality content for online gaming customers,’’ Mr Stephens says.

The skycitycasino online gaming business will be managed by an Online Director, Steve Salmon, based in Europe, bringing with him a wealth of experience in online casino gaming and wagering.

Although SKYCITY is not anticipating meaningful incremental earnings from its online business pre-regulation of the online casino market in New Zealand, Mr Stephens felt that “consistent with our group strategy, longer-term we see an exciting opportunity to grow and diversify our earnings through provision of a multichannel offering to gaming customers both online and at our land-based casinos in New Zealand.”

*2017 Regulus Report